168 
PARK AND CEMETERY. 
the cemetery and writing off a propor- 
tional part of the asset against the operat- 
ing account each year. 
Equipment. Under this caption we carry 
such items as Horses and Wagons, and 
Office Furniture and Fixtures. For the 
purpose of the annual statement these 
should be inventoried and valued at their 
present worth. The difference between the 
book value and the appraised value should 
be transferred to the operating account. 
Investments. The investments are pri- 
marily required to guarantee the fulfil- 
ment of the obligations of perpetual care. 
Inventories. Coming now to the float- 
ing assets, we have first the inventories of 
materials and supplies used in the opera- 
tion of the cemetery — burial boxes, burial 
devices', greenhouse supplies, etc. Pur- 
chases during the year should be charged 
to the asset account ; at the end of the 
year physical inventories should be taken 
and a valuation made ; and the difference 
between that valuation and the book value, 
representing the materials and supplies 
used, should be charged to the operating 
account. 
Cash. This item consists of cash in 
bank and cash on hand. It is important 
that the records of cash be kept very 
carefully. All cash received, from what- 
ever source, should be deposited in full 
in the bank daily. For payments of small 
amount in currency, a separate contingent 
fund should be established, to be replen- 
ished from time to time as required. 
Accounts Receivable. Separate sets of 
accounts receivable should be kept for the 
various classes : Deferred Instalments on 
Lot Sales ; Sales of Greenhouse Produce ; 
Foundation Contracts, and so on, so that 
the total outstanding in each class may al- 
ways be ascertainable. 
These are the principal items appearing 
on the asset side of the Balance Sheet. 
The liabilities may be classified in four 
divisions - : Capital Stock, Bonded Indebt- 
edness, Current Liabilities and Reserves. 
Capital Stock. The Cemetery Associa- 
tion with which I am connected is not 
operated for the purpose of earning 
profits; there are no stockholders and no 
capital stock. The excess of income over 
expenditure is thus wholly available for 
cemetery purposes and we are therefore 
relieved of that very difficult question of 
apportioning the surplus income between 
the present claims of the stockholders and 
the future cla’ms of the cemetery. For 
the most part the rights of stockholders 
are regulated by the articles of incorpora- 
tion and the by-laws of the company. 
Bonded Indebtedness. As to the bonded 
indebtedness, provision must be made for 
repayment of the bonds in accordance with 
the deed of trust under which they have 
been issued. If they are repayable by 
equal instalments during their currency no 
special provision need be made, but if 
they are repayable in one amount at the 
THE NECROPOLIS ASSOCIATION 
Balance Sheet 
As at December 31, 1912 
Fixed Assets: 
Lands: 
Improved Lands . 
Unimproved Lands 
ASSETS 
$ 400,000.00 
100 , 000.00 
Improvements: 
Greenhouses 
Chapel 
Vault 
Crematorium 
Fences 
Water System 
Equipment: 
Horses and Wagons. . . . 
Furniture and Fixtures 
500,000.00 
20 , 000.00 
50.000. 00 
20 . 000 . 00 
10,000.00 
10 , 000.00 
12 , 000.00 
122 , 000.00 
3.000. 00 
2.000. 00 5,000.00 
Investments of Future Care Fund: 
Bonds 200,000.00 
Real Estate Mortgages 100,000.00 
Cash in Bank 1,200.00 301,200.00 
Total Fixed Assets 
Floating Assets: 
Inventories of Materials and Supplies 
Cash : 
First National Bank 
Contingent Fund 
Accounts Receivable: 
Deferred Instalments on Lot Sales. . . 
For Greenhouse Produce 
For Foundation Contracts 
Miscellaneous 
Total Floating Assets 
928,200.00 
15,000.00 
$ 5,000.00 
1 . 000.00 6 , 000.00 
40,000.00 
2 , 000.00 
500.00 
3,000.00 45,500.00 
66,500.00 
Total Assets 
$994,700.00 
LIABILITIES. 
Capital Stock Authorized and Issued: 
5,000 Shares of $100.00 each $500,000.00 
Bonded Indebtedness Authorized and Issued: 
200 5% Debenture Bonds of $500.00 each 100,000.00 
Current Liabilities: 
Accounts Payable — Audited Vouchers $ 5,500.00 
Pay Roll for December, 1912 2,500.00 
Taxes for year 1912 500.00 8,500.00 
Reserve for Future Care 301,200.00 
Surplus 85,000.00 
Total Capital and Liabilities $994,700.00 
THE NECROPOLIS ASSOCIATION 
Income Account 
For the year ended December 31, 1912 
Pales of Lots $ 
Sales of Single Graves 
Opening and Decorating Graves.... 
Foundations 
Coffin Eoxes 
Use of Crematorium 
Sales of Greenhouse Produce 
Rev. 
50.000. 00 
10 . 000 . 00 
15,000.00 
15.000. 00 
500.00 
2 , 000.00 
20 . 000 . 00 
Direct 
Expense 
$25,000.00 
2,500.00 
10 , 000,00 
7,000.00 
150.00 
500.00 
17,500.00 
Net 
Rev. 
$25,000.00 
7.500.00 
5.000. 00 
8 . 000 . 00 
350.00 
1.500.00 
2.500.00 
$112,500 $62,650.00 $49,850.00 
Interest on Lot Sales Contracts 
Record Fees 
Discount on Purchases 
Total Net Revenue 
General Cemetery Expense: 
Salary of Superintendent 
Maintenance of Grounds 
General Repairs 
General Depreciation 
Stable Expense 
Administration Expense: 
Salaries 
Stationery and Printing- 
Telephone and Telegraph 
Fostage 
Le^al Expenses 
Office Rent 
Insurance 
Net Income 
3,000.00 
150.00 
100.00 
$53,100.00 
$ 4,000.00 
12,000.00 
1 , 000.00 
10 , 000.00 
3,000.00 
$30,000.00 
$ 10 , 000.00 
500.00 
200.00 
150.00 
500.00 
1 , 200.00 
150.00 11,700.00 41,700.00 
$11,400.00 
end of a fixed period a proportionate 
amount should be set aside each year and 
invested so that at maturity there will be 
a fund available to meet them. 
Current Liabilities. Current liabilities 
consist of accounts payable for purchases, 
wages, taxes, and so forth. All I need 
say in this connection is that before clos- 
ing the books' for the fiscal year great 
care should be exercised in setting up all 
outstanding liabilities. 
Reserves. We now come to the reserves 
and the chief among these is the reserve 
for perpetual care. This has been the 
subject of many discussions and much 
consideration by the members of this 
Association. It is obvious that it cannot 
be dealt with exhaustively in a paper of 
